Andra AP fonden Reduces Stock Position in ResMed Inc. $RMD

Andra AP fonden decreased its position in shares of ResMed Inc. (NYSE:RMD) by 95.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,681 shares of the medical equipment provider’s stock after selling 90,519 shares during the period. Andra AP fonden’s holdings in ResMed were worth $1,281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in ResMed during the second quarter worth $306,452,000. Vanguard Group Inc. increased its position in shares of ResMed by 1.6% in the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after buying an additional 293,515 shares in the last quarter. Ilex Capital Partners UK LLP purchased a new position in shares of ResMed in the second quarter valued at $39,306,000. Allianz Asset Management GmbH raised its stake in shares of ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after buying an additional 110,647 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of ResMed by 25.4% in the 3rd quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock worth $148,556,000 after buying an additional 109,760 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the transaction, the director directly owned 64,773 shares in the company, valued at approximately $16,278,102.63. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,082 shares of company stock valued at $4,134,807. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RMD shares. Royal Bank Of Canada increased their price objective on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Wells Fargo & Company upped their price target on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Stifel Nicolaus lifted their price objective on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Finally, Piper Sandler increased their target price on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Stock Performance

NYSE:RMD opened at $256.34 on Monday. The firm has a 50 day simple moving average of $254.05 and a 200-day simple moving average of $260.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The firm has a market cap of $37.34 billion, a PE ratio of 25.36, a P/E/G ratio of 1.70 and a beta of 0.88. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.43 earnings per share. On average, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio (DPR) is 23.74%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.